Kingsoft Cloud (NASDAQ:KC) Shares Down 4.5% - Time to Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC - Get Free Report) shares were down 4.5% on Tuesday . The company traded as low as $10.92 and last traded at $10.94. Approximately 544,086 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,838,449 shares. The stock had previously closed at $11.46.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KC shares. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. UBS Group upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $4.20 to $12.50 in a research report on Friday, December 6th. Finally, Nomura raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and increased their price objective for the company from $2.30 to $6.70 in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Kingsoft Cloud has an average rating of "Buy" and a consensus target price of $5.93.

Kingsoft Cloud Stock Performance

The firm has a market cap of $2.66 billion, a PE ratio of -8.74 and a beta of 2.49. The firm has a fifty day moving average price of $6.57 and a 200 day moving average price of $4.01. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.

Institutional Trading of Kingsoft Cloud

A number of institutional investors and hedge funds have recently bought and sold shares of KC. Jane Street Group LLC raised its stake in shares of Kingsoft Cloud by 383.5% in the third quarter. Jane Street Group LLC now owns 322,503 shares of the company's stock valued at $948,000 after acquiring an additional 255,795 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Kingsoft Cloud in the 3rd quarter valued at about $326,000. GSA Capital Partners LLP boosted its stake in shares of Kingsoft Cloud by 90.2% in the 3rd quarter. GSA Capital Partners LLP now owns 172,415 shares of the company's stock valued at $507,000 after buying an additional 81,751 shares during the period. XY Capital Ltd acquired a new position in shares of Kingsoft Cloud during the third quarter worth about $214,000. Finally, Walleye Capital LLC purchased a new stake in shares of Kingsoft Cloud during the third quarter worth approximately $119,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.